Combined Net Worth means that sum calculated as follows from borrower and guarantor financial statements, each prepared as of the same date: Borrower’s Tangible Net worth plus Guarantor(s)’ Tangible Net Worth minus the sum of the following, If included in the Guarantor’s Tangible Net Worth: assets held jointly unless all owners guaranty the debt secured hereby, Guarantor’s equity in the Borrower, receivables due from the Borrower, unverified and unrealized appreciation in personal residence(s), equity in automobiles and other personal property, and unsecured receivables, MINUS payables due to Borrower.
Combined Net Worth at a particular date, all amounts which would, in conformity with GAAP, be included on a combined balance sheet of the Borrowers and their Subsidiaries as at such date for Preferred Stock plus any increase or decrease in retained earnings between the Closing Date and such date.
Combined Net Worth means, as of any date of determination, the sum of (a) Gross Assets as of such date, minus (b) Total Liabilities as of such date.
Examples of Combined Net Worth in a sentence
The Parent fails to maintain a Combined Net Worth greater than or equal to the Minimum Net Worth.
More Definitions of Combined Net Worth
Combined Net Worth means at any date, all amounts that would, in conformity with GAAP, be included on a combined statement of financial condition of the Borrowers and their respective consolidated Subsidiaries under unitholders’ capital at such date without giving effect to any non-cash charges resulting from the vesting or issuance of equity to employees, principals or others.
Combined Net Worth means, at any date of determination, the combined shareholders’ equity of the Company, as set forth on the then most recently available combined balance sheet of the Company and its combined subsidiaries and joint ventures.
Combined Net Worth means the sum of the common stockholders' equity of the Companies as set forth on the audited balance sheets of the Companies presented on a combined basis as at December 31, 1995 (the "Final Balance Sheet"), prepared in accordance with generally accepted accounting principles ("GAAP"), minus (without duplication) (i) an amount representing any write-up of the value of any intangible assets of any Company after September 30, 1995, (ii) an amount representing all assets which would be treated as intangibles under GAAP, including without limitation goodwill, trademarks, trade names, copyrights and patents and (iii) the sum of each Company's Distribution, as defined herein. The term "Distribution" shall mean an amount equal to a Company's accumulated adjustments account to be distributed to the Seller at the Closing, as defined herein. The Final Balance Sheet shall include reserves in order to reflect potential liabilities arising from returns and allowances on the Companies' sales, incurred but unpaid self-insured medical claims for the Companies' employees and earned but unpaid vacation and sick days for the Companies' employees (collectively, the "Reserves"). (c) WES&T shall deliver to the Buyer, no later than five business days before the Closing Date, a statement setting forth in reasonable detail the calculation of Estimated Combined Net Worth. The Buyer and its Accountants, as defined herein, shall have access to, and the opportunity to review, the work papers and other documents used by WES&T in determining Estimated Combined Net Worth and shall have the opportunity to ask questions of WES&T regarding its determination of Estimated Combined Net Worth. The Combined Net Worth shall be mutually determined in good faith by the Buyer's independent public accountants (the "Accountants") and a firm of independent certified public accountants engaged by the Seller (the "Seller's Accountants") no later than March 31, 1996. The Accountants and the Seller's Accountants shall deliver to the Buyer and the Seller on or before such date a statement setting forth the Combined Net Worth at which time such determination shall be binding and conclusive on the Buyer and the Seller for the purposes hereof and shall be paid in accordance with the terms of Section 1.2 (a) hereof. If the Accountants and the Seller's Accountants cannot mutually agree on the Combined Net Worth by such date, then a final determination of the Combined Net Worth shall be made by a nationally reco...
Combined Net Worth means, as of any date, the sum of (i) the Members’ Equity on such date and (ii) the GTG Net Worth on such date.
Combined Net Worth means, at any date, the combined total equity of the managed businesses of the Company and its Subsidiaries; provided that there shall be excluded from “Combined Net Worth” (a) accumulated other comprehensive income (or loss) and (b) all noncontrolling interests (as determined in accordance with the Statement of Financial Accounting Standards No. 160, entitled “Noncontrolling Interests in Consolidated Financial Statements”).
Combined Net Worth means, at any particular time, all amounts which, in conformity with GAAP, would be included as stockholders' equity on a combined balance sheet of Parent and the Subsidiaries (determined on a consolidated basis) and any ER Management Party that is not otherwise a Subsidiary.
Combined Net Worth at any date, all amounts that would in conformity with GAAP, be included on a combined balance sheet of SatCom, Loral Satellite and their respective consolidated Subsidiaries under the stockholders' equity at such date.